Canada records virtually flat jobs growth in December

TORONTO (Reuters) - Canada's economy gained a net 100 jobs in December, entirely in part-time work, and the jobless rate held at 5.8%, Statistics Canada data showed on Friday.

Employment in the goods producing sector fell by a net 42,900 jobs, largely in manufacturing. The services sector was up by a net 43,100 positions, mostly in professional, scientific and technical services, as well as health care and social assistance.

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DOUG PORTER, CHIEF ECONOMIST, BMO CAPITAL MARKETS

"The main story here is we are seeing some cool down in the job market. It's been erratic for sure over the last year but this does fit with the broader narrative that the economy is slowing and is struggling to grow."

"Up until this month we had seen decent job gains even in very slow economic growth but it looks like maybe that slowdown in the broader economy has caught up with the job market, at least for this month."

"For the Bank of Canada, they are not going to read that much into one monthly number. I guess the one disturbing aspect for the bank is that average hourly wages took a big step up in the month. Again, this can be a bouncy series but the fact that wages are picking up and not slowing down I think will be of some concern to the bank."

(Reporting by Fergal Smith; Editing by Denny Thomas)